If we consider the impact on both consumers and producers, then protection of the steel industry is:
A. In the interest of the United States as a whole, but not in the interest of the state of Pennsylvania
B. In the interest of the United States as a whole and in the interest of the state of Pennsylvania
C. Not in the interest of the United States as a whole, but it might be in the interest of the state of Pennsylvania
D. Not in the interest of the United States as a whole, nor in the interest of the state of Pennsylvania
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Which trade policy results in the government levying a "two-tier" tariff on imported goods?
A. Tariff quota
B. Nominal tariff
C. Effective tariff
D. Revenue tariff
If I purchase a stereo from South Korea, I obtain the stereo and South Korea obtains the dollars. But if I purchase a stereo produced in the United States, I obtain the stereo and the dollars remain in America. This line of reasoning is:
A. Valid for stereos, but not for most products imported by the United States
B. Valid for most products imported by the United States, but not for stereos
C. Deceptive since Koreans eventually spend the dollars on U.goods
Deceptive since the dollars spent on a stereo built in the United States eventually wind up
The most vocal political pressure for tariffs is generally made by:
A. Consumers lobbying for export tariffs
B. Consumers lobbying for import tariffs
C. Producers lobbying for export tariffs
D. Producers lobbying for import tariffs
If we consider the interests of both consumers and producers, then a policy of tariff reduction in the U.S. auto industry is:
A. In the interest of the United States as a whole, but not in the interest of auto-producing states
B. In the interest of the United States as a whole, and in the interest of auto-producing states
C. Not in the interest of the United States as a whole, nor in the interest of auto-producing states
D. Not in the interest of the United States as a whole, but is in the interest of auto-producing states
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